The stock market is high because money is cheap.
Yes and for many people there is not much else to do with their money due to lockdown?
Travel? Go out to eat? Start a business? Invest in real estate? Go shopping? For most of us difficult or ill advised.
Bonds don't yield much, and can only go up in price if interest rates fall further, even below zero. So some people feel "TINA," as in "There is no alternative" to stocks.
“The stock market is high because money is cheap.”
Bingo - a more accurate assessment of how the market is doing would be based on how much gold the total value of all stocks could purchase now as opposed to past years.
Currently the US dollar is worth about 1/2000th of an ounce of gold. I don’t think things look so rosy from that perspective.
Bingo
And why is money ‘cheap’ right now? Because of Trump.